NEW YORK, Nov 4 (Reuters) - U.S. crude futures surged on Tuesday as signals that OPEC members were cutting production in line with the group's recent decision, a weaker dollar and stronger equities markets offset concerns about falling demand. Refined products futures also surged after Monday's steep declines. "Saudi Arabia has told major oil companies that it will restrict the volume they can load this month, answering skepticism about the kingdom's compliance with OPEC's Oct. 24 deal to cut output," Mike Fitzpatrick, vice president at MF Global, wrote in a research note. "The Saudi cuts were the main oil-related news, but the dollar had a big reversal lower," said Tom Bentz, analyst at BNP Paribas Commodity Futures Inc. PRICES * On the New York Mercantile Exchange at 12:31 p.m. EST (1731 GMT), December crude CLZ8 was up $7.29, or 11.41 percent, at $71.20 a barrel, trading from $62.25 to $71.77. * In London, December Brent LCOZ8 rose $6.73, or 11.13 percent, to $67.21 a barrel, trading from $58.38 to $67.76. * NYMEX December RBOB RBZ8 rose 19.86 cents, or 14.58 percent, to $1.5611 a gallon, trading from $1.3215 to $1.58. * NYMEX December heating oil HOZ8 rose 21.40 cents, or 10.79 percent, to $2.1968 a gallon, trading $1.9430 to $2.2113. * The December heating oil crack spread <0#CL-HO=R> was at $21.08 a barrel, and the RBOB crack spread <0#RB-CL=R> was at minus $5.61. * The spread between the current front month and the five-year forward December crude contract CLc61 was at $22.05, based on the last trade of $93.25 for December 2013 crude. TECHNICALS NYMEX crude 10-day/20-day moving average: $65.35/$65.78 Technical support/resistance: NYMEX crude: $62.65/$67.00 NYMEX heating oil: $1.95/$2.10 NYMEX RBOB: $1.30/$1.45 For a report on oil market technicals click [ID:nL4574408] MARKET NEWS * World stocks hit a two-week high as investors focused on the U.S. presidential vote and anticipated interest rate cuts from European central banks. [MKTS/GLOB] * The dollar fell against most major currencies as investors eyed the result of the U.S. election and central bank meetings set for later in the week. [USD/] * Saudi Arabia already has cut crude supplies to some of its customers, with one industry source estimating the kingdom had reduced exports, as opposed to production, by around 900,000 bpd from a peak in August. Saudi officials have yet to comment publicly. [ID:nSP353393] * China's commercial gasoline and diesel stocks rose further to a record high over September, a Xinhua newsletter reported on Tuesday. [ID:nSIN361420] * China will probably skip diesel imports in November amid slowed demand and high inventories. [ID:nSIN371129] * U.S. crude and distillate supplies were expected to have risen last week, with gasoline stocks lower, according to a preliminary survey of analysts taken on Monday. [EIA/S] * For a list of recent refinery and unit shutdowns and restarts, click [REF/US]. * For more energy related stories, click [TOP/O] (Reporting by Robert Gibbons; Editing by Walter Bagley)

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